How to prepare an application for Age Pension

How to prepare the application for Age Pension to be successfully accepted the very first time you apply?
This is one of the main questions I keep getting from people preparing for retirement and future Age Pension benefit.

First there are couple of steps you need to take before you even start completing the application:

Check the eligibility criteria - are you eligible in the first place?
and a very good start is: Age Pension - Are you eligible? - An easy explanation of the eligibility rules, however, keep in mind that the Income and Assets Test minimums and maximums are updated quarterly.

Check what is your Age Pension benefit.
If you are unsure how Income and Assets Tests work this will help: Age Pension Assets Test - the Truth revealed and Age Pension Income test madness.

This is a perfect starting point; however, nothing will replace the Age Pension focused financial planning advice.

Not only your Age Pension payments could be improved, but as I explained in many of my videos and articles, your overall retirement income can be increased while being more secure, predictable, and longer lasting.

Assuming that you passed the first two points, now is the time to start completing those applications. 

You can complete your application either online via MyGov or the old fashion way: print the paper, complete the application and then visit the Centrelink office.

My recommendation is: get the paper application first and go over it. If you are seeing this application for the first time, your eyes will go into a spinning mode, once you discover the questions you are being asked.

Even if you are the most confident with completing applications online, there is so much data you will have to find, research or prepare, that you will need some time to have it all collected for full completion of the application. 

There are two basic forms that every applicant needs to fill in:

Claim for Age Pension and Pension Bonus

Income and Assets form 

To download the book 12 PRINCIPLES OF INVESTING:
https://ebook.aboutretirement.com.au/...

Contact details:
Katherine Isbrandt of About Retirement
Website: https://aboutretirement.com.au/
Email: [email protected]

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